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20130125
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. >> smith: were you ever contacted by anybody in law enforcement or the justice department? >> not until just recently. >> we are going to step up on the principle of one set of rules for everyone, equal justice under law. >> narrator: finally, in late 2012, the state of new york sued a wall street bank for fraudulently misrepresenting the mortgages they packaged and sold. >> very simply, we're investigating the misconduct of folks who caused the bubble... >> narrator: the man who brought the suit was new york attorney general eric schneiderman, co-chair of a new state-federal working group that included the department of justice, the sec and others. >> ...complaint for securities fraud against jpmorgan chase as successors to bear stearns and company and emc mortgage corporation. >> narrator: although the case centered on bankers' fraudulent and deceptive practices, no individuals were named. the suit was a civil, not criminal, case. >> smith: and you've alleged in the case of bear stearns that they passed these things on knowingly, intentionally, knowing they were bad? >> yes. we think
of legislation, and it is extremely unusual. when any of the other major programs were passed, signed into law, they were ultimately done with both democrat and republican votes. >> narrator: it was victory, but experienced washington knew the president would pay for it. >> it came at a high price, the entire first year basically dedicated to this, having their hopes for bipartisanship dashed. >> narrator: now, he and his party would have to wait for a verdict from the electorate-- the midterm elections. >> an historic election for the republican party... >> it's a whole new political world for the president... > narrator: in november of 2010, the president's party suffered a significant defeat... >> now the republicans back in power in the house of representatives... >> narrator: for them, the midterm elections were a disaster. >> democrats are nursing a major midterm hangover. >> it was really one of the first times when the country had a chance to register their opposition to obama. >> tuesday's election was a game changer... >> and boy, did they. >> repudiation of the president and his pol
Search Results 0 to 4 of about 5 (some duplicates have been removed)

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